Total amount raised
$178.6 Millions
Latest funding date
3/1/2024
Location
Jumbotail has successfully raised significant funding through multiple rounds, including a Series C round. The platform offers a comprehensive suite of services, connecting grocery retailers with brands and providing solutions in supply chain logistics, credit, and payments.
Keep reading to explore the intricacies of Jumbotail's fundraising journey and the investors backing this innovative platform.
What Is Jumbotail?
Jumbotail, founded in 2015 by Ashish Jhina and Karthik Venkateswaran, is based in Bangalore, Karnataka, India. The company operates a B2B marketplace and retail platform for food and grocery shopping, connecting Kirana stores with brands and traders.
Jumbotail offers a comprehensive suite of services, including supply chain logistics, a mobile app for placing orders, integration with point-of-sale devices, and credit solutions for shop owners. Their platform aims to organize the food and grocery ecosystem in India using technology, data science, and design.
With a workforce of 1001-5000 employees, Jumbotail continues to innovate and expand its reach, providing high-quality staples, homecare, packaged foods, and personal care products to wholesale buyers.
How Much Funding Has Jumbotail Raised?
- Seed Round
- Amount Raised: $2M
- Date: July 2016
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and establish the platform.
- Series A
- Amount Raised: $8.5M
- Date: July 2017
- Lead Investors: Kalaari Capital, Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series B
- Amount Raised: ₹900M
- Date: June 2019
- Lead Investors: Heron Rock Fund, Tom Williams
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and logistics capabilities.
- Series B
- Amount Raised: ₹142M
- Date: November 2019
- Lead Investors: Nexus Venture Partners, Tom Williams
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the retailer base and improve service offerings.
- Series B
- Amount Raised: $11M
- Date: October 2020
- Lead Investors: Heron Rock Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational scaling.
- Series B
- Amount Raised: $25.2M
- Date: January 2021
- Lead Investors: VII Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology infrastructure and expand market presence.
- Debt Financing
- Amount Raised: ₹350M
- Date: June 2021
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expansion.
- Series C
- Amount Raised: ₹6.4B
- Date: December 2021
- Lead Investors: Artal, Invus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance supply chain capabilities.
- Debt Financing
- Amount Raised: ₹750M
- Date: March 2023
- Lead Investors: Alteria Capital, Innoven Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build sourcing capabilities and invest in AI-driven technologies.
- Series C
- Amount Raised: ₹1.5B
- Date: March 2024
- Lead Investors: Artal Asia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance its food and grocery marketplace.
Total Amount Raised: $125M
Current Valuation: Not publicly disclosed
Key Investors
- Artal Asia
- Details: Artal Asia is a private investment firm that focuses on long-term value creation. They have a strong presence in the Asian market, investing in various sectors.
- Investment Focus Areas: Consumer goods, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- Heron Rock Fund
- Details: Heron Rock Fund is an investment firm that focuses on early-stage and growth-stage companies. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm investing in early and growth-stage companies. They have a strong track record in supporting technology-driven startups.
- Investment Focus Areas: Technology, e-commerce, fintech.
- Notable Investments: Delhivery, Zomato, Unacademy.
- Kalaari Capital
- Details: Kalaari Capital is a venture capital firm that invests in early-stage technology startups in India. They focus on companies that have the potential to disrupt traditional industries.
- Investment Focus Areas: Technology, e-commerce, healthcare.
- Notable Investments: Dream11, Cure.fit, Myntra.
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that provides financing solutions to high-growth startups. They focus on supporting companies with strong growth trajectories.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Dunzo, Lendingkart, Rebel Foods.
What's Next for Jumbotail?
Jumbotail is poised to capitalize on the vast opportunities in the B2B grocery market, which is valued at $500 billion. By enhancing its sourcing capabilities and investing in AI-driven technologies, the company aims to increase its market penetration from 60% to over 80% and double its net revenues. The expansion of its retailer base to 400,000 across 50+ cities will further solidify its market presence.
Future fundraising opportunities are likely as Jumbotail continues to scale. Additional debt or equity funding could support technological advancements and operational growth. However, challenges such as achieving operational profitability, managing rapid expansion, and competing with other B2B marketplaces like Udaan and Dealshare remain. The company's focus on AI and digital solutions will be crucial in navigating these hurdles.
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